CONSUMER'S PERCEPTION OF TENANT MIX AND THE SUCCESS OF SHOPPING CENTERS

Abstract

A successful shopping center is the product of many forces, one of which, being the qualification and selection of tenants to achieving the optimum tenant mix. The objective is to create a synergic optimum tenant mix among tenants to maximize traffic that will increase sales of the tenants. In view of the above, this research seeks to investigate consumers' perception of the importance of tenant mix to the success of shopping centres. The study found that tenant mix is indeed a crucial factor in attracting consumers to the centre. An analysis on the sociodemographic factors on consumers' preference of retail tenant type indicated that consumers show a higher preference for anchor tenant type stores in the centre. The research findings indicated that tenant mix is an imperative contributing factor to the success of any shopping centre. Retail managers must therefore formulate strategies to rejuvenate the shopping centres of Singapore by maintaining a balance in its tenant mix to enhance their competitive position.